The government expects to sell 360 million shares in the form of global depository receipts through lead underwriter Merrill Lynch, said Han Wei-chung, a section chief at the ministry's Commission of National Corporations.
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In January, investors in global depository receipts of Larsen & AMP; Toubro, an Indian engineering company, were paying an average 26 . 98 percent premium in dollar terms over the company's locally traded shares.
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India's caretaker government Tuesday decided to sell shares worth 100 billion rupees ( dlrs 2.3 billion ) in state-owned companies by early next year in the local share market and through global depository receipts.
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Foreign investors were also keeping away from Indian stocks because they're waiting to invest in global depository receipts expected to be issued by two of India's biggest state-owned companies later this year, analysts said.
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Egyptian stocks were mixed, with Misr International Bank ( MIBank ) leading the decliners as Egyptian investors sold the stock that has raced ahead of its global depository receipt ( GDR ) price, brokers said.
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India's caretaker government Tuesday decided to sell shares worth 100 billion rupees ( dlrs 2 . 3 billion ) in state-owned companies by early next year in the local share market and through global depository receipts.
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-- Grupo Elektra S . A . de C . V .-Global Depository Receipts-( EKT ) was downgraded to " hold " from " speculative buy " by analyst Marc de Speville at Robert Fleming Inc.
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GUANGDONG Investment has announced the issue of redeemable cumulative convertible preference shares ( CPS ) in the form of global depository receipts ( GDR ), which are convertible into fully paid ordinary shares worth $ 0.50 each.
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A bank official said Komercni expects to raise $ 50 million to $ 80 million this year through the global depository receipts, or GDRs, which would represent up to 10 percent of the bank's 19 million shares.
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Under Mr . Syngal's stewardship, VSNL conceived, planned and executed what was at that time the biggest Global Depository Receipts ( GDR ) issue out of India and the third largest out of Asia ( Excluding Japan ).
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